Is Hanover, IN 47243 a buyer’s or seller’s market?
Hanover is a balanced market. With about 4.2 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 26% of U.S. ZIP codes, and #280 of 306 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Hanover housing market right now
In the three months ending August 31, 2026, 14% of homes in Hanover, IN 47243 sold above their list price, the typical home went under contract in 60 days and there were 4.2 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 23 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 7%, homes sold faster (73 days then) and the median sale price rose 38% to $251,091. Overall, Hanover is more competitive than a year ago, so tougher for buyers.
Within Jefferson County, homes here sell faster than in 75% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county. On our competition score, Hanover ranks #280 of 306 IN ZIP codes with enough sales (score 30 out of 100).
Nearby, buyers who want less competition could look at Dupont 47231 (0% sold over asking) or Deputy 47230 (0% sold over asking).
Run the numbers for 47243
Nearby markets
Canaan 47224 — /sq ftDeputy 47230Buyer’s market $129 /sq ftDupont 47231Seller’s market $111 /sq ftLexington 47138Seller’s market $151 /sq ft Browse all markets →Towns like Hanover nearby
Find towns like Hanover in other states →Where Hanover is
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Questions about Hanover real estate
Is Hanover a buyer’s or seller’s market?
A balanced market: there were 4.2 months of supply in Hanover, IN 47243 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Hanover?
The typical home went under contract in 60 days in the latest three months.
Do homes in Hanover sell over asking?
14% of homes sold above their original list price, and the typical sale closed at 97.8% of the list price.
What are property taxes in Hanover?
About 0.64% of a home’s value a year in Jefferson County, or roughly $2,560 on a $400,000 home.
What is the median home price in Hanover?
The median sale price was $251,091 in the three months ending August 31, 2026, about $181 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology